Zilliqa showcases solid gains, but will this trend continue?

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Zilliqa ZIL/USD is a smart contract blockchain platform that utilizes a technology known as sharding as a means of maximizing the number of transactions that can be performed at any given time.

Furthermore, Zilliqa also utilizes a unique consensus mechanism, which is a combination of proof-of-work (PoW) and Practical Byzantine Fault Tolerance (PoW and pBFT).

Zilliqa coin, known as ZIL, is the native cryptocurrency that powers this platform.

Zilliqa news and developments as a catalyst for growth

Metamouse announced that they added support for Zilliqa tokens On May 2, 222, for the bill payments. In other words, all Metamouse clients are able to pay bills easily and quickly directly through the usage of cryptocurrencies.

On May 6, 2022, Zilliqa announced their gaming studio, where followers could get an exclusive first look at the gaming gurus Tom and Valentin’s work.

Additionally, the project joined the Blockchain Gaming Alliance (BGA) and announced Metapolis.

Zilliqa claims it will be the first “Metaverse as a service platform” built on top of stack technology. 

The Atomic Wallet will support Zilliqa’s blockchain non-fungible tokens (NFTs).

Another interesting aspect of the ZIL token is the fact that, on May 4, 2022, it was worth $0.0678. On May 5, 2022, it increased in value to $0.0964. 

This marked an increase in value of $0.0286 or by 42% within that specific time frame and signaled a bullish outlook for the token. 

These are value points far greater than the ones seen in our prior analysis on April 9, 2022.

This has led to many questions in the minds of investors, and as such, we are going to go over if the ZIL token is still worth getting even after its downtrend after it reached that point of value.

Should you buy Zilliqa (ZIL)?

On May 6, 2022, Zilliqa (ZIL) had a value of $0.07358.

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In order for us to get a better perspective as to what kind of value point this is for the ZIL cryptocurrency, we will be going over its all-time high, as well as its performance throughout the previous month.

The all-time high value of the Zilliqa (ZIL) token was on May 6, 2021, when the token reached a value of $0.255376. This means that at its ATH, the token was $0.181796 higher in value or by 247%.

When we go over the performance of the token throughout the previous month, Zilliqa (ZIL) had its highest point of value on April 1 at $0.2181. Its lowest point was on April 30 at $0.07607. This marked a decrease in value of $0.14203 or 65%.

Based on the recent spike in value, various developments and updates surrounding the project, and the overall community support, ZIL can reach a value of $0.12 by the end of May 2022.

The post Zilliqa showcases solid gains, but will this trend continue? appeared first on Invezz.

from Market Analysis – Invezz

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